Chapin v. Posner

In this action brought on January 17, 1947, to foreclose a second mortgage on realty, upon which the last payment of principal was made on November 4, 1931, and the last payment of interest on September 1, 1936, plaintiffs allege an oral agreement in 1939 or 1940, to the effect that defendants promised to make such payments to a first mortgagee as would remove the threat of foreclosure of its mortgage and thereafter to resume payments on the mortgage in suit in return for plaintiffs’ promise to forbear foreclosure of their mortgage and to extend the time of payment until the threat of…